Not sure if I agree with your use of 'Philistine' and 'Dunning-Kruger'..
Having a hard math algorithm would be either too rigid or technological for our government.
There is probably a monetarist argument that looking at trade volume alone cannot understand the nuances and needs of an economy; mind that trade volume would be one of the more easily-accessible data. And that centralized banking is needed to aggregate that information, analyze it, and then relay that to government to decide what to do.
But what you're talking about has already been implemented in Bitcoin Cash during their emergency difficulty adjustment.
Having a hard math algorithm would be either too rigid or technological for our government.
There is probably a monetarist argument that looking at trade volume alone cannot understand the nuances and needs of an economy; mind that trade volume would be one of the more easily-accessible data. And that centralized banking is needed to aggregate that information, analyze it, and then relay that to government to decide what to do.
But what you're talking about has already been implemented in Bitcoin Cash during their emergency difficulty adjustment.